It seemed straight out of the evil-tech-company playbook. In August, Facebook secured an otherwise innocuous U.S. patent about how to analyze a user’s friend network to let them do something. Most of the patent discusses the fairly mundane technicalities of running a social network—until, last in a list of examples, there appeared the following paragraph: When an individual applies for a loan, the lender examines the credit ratings of members of the individual’s social network who are connected to the individual […].

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Topics:  credit invisibles   august    ldquo;facebook wants   redline your friends   list,&rdquo   american&rsquo    will   team upturn   fair credit reporting act passed   equal credit opportunity act the ecoa   america&rsquo   mexico   columbia   philippines   lenddo   twitter   united   let&rsquo    ldquo;the fcra   and i   fair credit reporting act the fair credit reporting act   experian   equifax   transunion   google   rob&rsquo   phillipines   kreditech   u.s.&mdash   rob&mdash   cfpb   x.&rsquo   regulation b so   it&rsquo   congress   facebook   rieke   i&rsquo   fair credit reporting act   ecoa   equal credit opportunity act   states   meyer   rob   at   and   that&rsquo   u.s    vantagescore   regulation b   fico   bank   deny   loan   based   people   don’t   there’s   legal   gonna   lot   you’re   poor   bureaus   they’re   we’re   network   users   answer   average   pretty   doesn’t   feel   feels   set   show   company   hey   system   access   future   super   race   scores   lender   pay   yeah   percent   good   cool   sounds   money   moral   consumers   law   story   outcome   group   talk   called   apply   model   types   long   account   hard   enforce   part   real   reject   shape   lots   read   clear   fall   content   ads   analyze   scheme   blush   networks   members   forms   mortgages   you’ve   world   wouldn’t   huge   purposes   sell   user   suddenly   purpose   purely   aaron   argue   neutral   form   legally   one’s   process   words   told   consumer   worth   paragraph   lenders   burdens   large   term   regular   month   burden   systems   major   small   capture   startup   extend   start   sex   someone’s   approaches   member   rooted   talked   cleanly   map   happen   put   guess   play   can’t   moment   person   factors   game   payments   years   broader   honestly   

 

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